CBC/Radio-Canadais cutting $130 million from its budget this year.
The budget cut will result in the loss of more than 650 jobs over the next two years, according to CBC. It will also take the network out of competing for the rights to broadcast professional sports (except for sporting events of "national significance" such as the Olympics).
The budget cut was necessary due to funding shortfalls and revenue losses, CBC says.
"Very tough and controversial choices needed to be made and were made," CBC president and CEO Hubert Lacroix said at a townhall meeting today.
Forthcoming changes include fewer original series, fewer high-cost reality shows, no more late night news in the North, and the abandonment of expansion into the London market.
But the layoffs won't solve everything. A Vancouver-based National Post reporter, for example, made a poignan observation:
Worth noting that the CBC director who just fired 600 people continues to live in a different city than his workplace ... and bills for it.
— Tristin Hopper (@TristinHopper) April 10, 2014